Sonae Indústria, S.G.P.S., S.A. announced unaudited consolidated earnings results for the first quarter ended March 2016. For the quarter, the company reported turnover of €259 million against €258 million a year ago. EBITDA was €30 million against €21 million a year ago. Recurrent EBITDA was €32 million against €25 million a year ago. Operational profit was €16 million against €7 million a year ago. Profit before taxes continuing operations (EBT) was €4 million against loss before taxes continuing operations (LBT) of €2 million a year ago. Net profit attributable to equity holders was €3 million against net loss attributable to equity holders of €11 million a year ago. EBITDA improved of €8.9 million (or +43%), when compared to first quarter of 2015. This performance was driven by better results in Europe and North American operations. Additions to gross tangible fixed assets reached €4.4 million, which compares with €2.4 million during the same period of 2015. The majority of the investments was in maintenance and health & safety improvements, and was mostly executed in the European plants. At the end of March 2016, net debt increased to €578 million against €597 million a year ago, up by €8.3 million, driven by the working capital evolution. Turnover improved by 0.4% when compared to same period of 2015. These results were possible, in both cases, as a result of improved performance in total sales volumes, as the consolidated average selling prices were below the levels of both first quarter of 2015 and fourth quarter of 2015.